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Uohou’ vvDefine key terms regional integration, regionalism,

federation, Caribbean citizebs, bilateral agreement, multilateral
agreement, political integration, economic integration, trade
liberalization, trading bloc, single market, common market,
developed country, developing country, underdeveloped
country,globalization, independent stats
 Regional integration has been defined as the process through which independent
national states "voluntarily mingle, merge and mix with their neighbors so as to lose the
factual attributes of sovereignty while acquiring new techniques for resolving conflicts among
themselves.
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 regionalism is a political ideology focusing on the "development of a political or social
system based on one or more" regions[ss
 a group of organizations, countries, regions, etc. that have joined
together to form a larger organization or government:

 Caribbean" is named after the Caribs, one of the dominant Amerindian

groups in the region at the time of European contact during the late 15th
century. The analogous "West Indies" originates from Christopher
Columbus' idea that he had landed in the Indies (then meaning all of south
and east Asia) when he had actually reached the Americas.

 A bilateral contract is an agreement between two parties in which each

side agrees to fulfill his or her side of the bargain.

 Multilateral agreements make all signatories treat each other equally. No

country can give better trade deals to one country than it does to another.
That levels the playing field. It's especially critical for emerging market
countries. Many of them are smaller in size, making them less competitive.
The Most Favored Nation Status confers the best trading terms a nation
can get from a trading partner. Developing countries benefit the most from
this trading status
 a political sense, the term of political integration as
a part of this broader one and the concept of spill-
over effect. Within the concept of political
integration, it could be understood various types
of political integration

 Economic integration is an arrangement among nations that typically

includes the reduction or elimination of trade barriers and the
coordination of monetary and fiscal
policies. Economic integration aims to reduce costs for both
consumers and producers and to increase trade between the countries
involved in the agreement

.
 Trade liberalization is the removal or reduction of restrictions or
barriers on the free exchange of goods between nations. These barriers
include tariffs, such as duties and surcharges, and nontariff barriers,
such as licensing rules and quotas. Economists often view the easing or
eradication of these restrictions as steps to promote free trade.

*  trading bloc Definition: A group of countries that are

economically intertwined, share some common cultural background,
are located close together, and coordinate their foreign trade
policies.There are three trading blocs of note, North America,
Europe, and Asia, although other portions of the globe aspire to this
status. The North American bloc centers around the good old

* A single market is a type of trade bloc in which most trade barriers have

been removed (for goods) with some common policies on product
regulation, and freedom of movement of the factors of production (capital
and labour) and of enterprise and services.
 common market is often regarded as a “single market” as it allows the
free movement of production  a common market include the free
movement of people, goods, services, and capital. Therefore, a factors
without the obstruct

 A developed country, industrialized country (or post-

industrial country), more developed country (MDC), or more
economically developed country (MEDC), is a sovereign state that
has a developed economy and advanced technological infrastructure
relative to other less industrialized nations. Most commonly, the
criteria for evaluating the degree of economic development are gross
…

a poor agricultural country that is seeking to

become more advanced economically and
socially.

having a relatively low economic level of industrial production

and standard of living (as from lack of capital)

2 State THREE types of cooperation

 Consumer: owned by consumers who buy goods or services from their
cooperative
 Producer: owned by producers of commodities or crafts who have joined forces
to process and market their products
 Worker: owned and democratically governed by employees who become co-op
members

2. Give THREE reasons why the Caribbean Integrate

Explain the importance of regional integration in the Caribbean

Regional integration is the process by which two or more nation-states

agree to co-operate and work closely together to achieve peace,
stability and wealth. Usually integration involves one or more written
agreements that describe the areas of cooperation in detail, as well as
some coordinating bodies representing the countries involved. This
co-operation usually begins with economic integration and as it
continues, comes to include political integration. Regional Integration
in the Caribbean is mainly through the Caribbean Community, or
CARICOM. In addition, member states in the sub-region are members
of the Organisation of the Eastern Caribbean States (OECS)

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